Department of Microbiology

Vacation Payout Formula

Regular Monthly Paid Employees

For regular monthly paid employees of the University, calculate as follows:

Monthly Rate / 22 days * #days accrued

$3,000.00 / 22 = $136.363

$136.363 * 15 = $2,045.454

Part-Time Monthly Employees

To calculate for Part-Time Monthly Employees, vacation is proportional to the percentage time worked in comparison to the job if it was a full-time job v:

Example: Work week = 4 hours/day

FT equivalent = 7 hours/day

Employee works 57% of FT equivalent

Employee can accrue up 24 (4 hour) days = 96 hours

Vs. 168 hours for FT employee

Full-time salary = $20,000

Part-time (@ 57%) = $11,400

Part-time (@ 57%) = $11,400

Now use same formula as FT:

Annual salary / 12 = Monthly Salary

Monthly Salary / 22 = daily rate

Daily Rate * #days accrued

$11,400 / 12 = $950; $950 / 22 = $43.181

Daily Rate for this employee = $43.181

Regular Weekly Paid Employees

For regular weekly paid employees of the University # of vacation days are calculated automatically by the Payroll System, calculate as follows:

Weekly Rate / 5 days = Daily Rate

Daily Rate * #days accrued = Amount Due

Part-time Weekly Paid Employees

To calculate for Part-time Weekly Employees, the number of vacation days are calculated automatically by the Payroll System:

Weekly Rate / 5 days = Daily Rate

Daily Rate * #days accrued = Amount Due


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